The following is a summary of the RLX Technology Inc. (RLX) Q4 2023 Earnings Call Transcript:
Financial Performance:
RLX Technology reported a full-year net revenue of RMB15.9 billion in 2023, indicating a notable decrease from previous years, attributed to a newly implemented excise tax in Mainland China.
Despite the overall yearly decrease, the company showed a year-over-year increase in Q4 2023 net revenues by 53.1%, hitting RMB520 million.
In Q4 2023, RLX Technology achieved its first positive non-GAAP operating profit of RMB76 million.
Despite a challenging fiscal year, the company returned around $112 million to its shareholders through share repurchases and cash dividends.
Business Progress:
In response to new regulatory frameworks for e-vapor products in Mainland China, RLX adapted and broadened their lineup of approved e-vapor cartridges, bolstered by their R&D capabilities.
Significant strides were made in their international expansion plans, especially in regions such as Southeast and North Asia.
RLX received positive ESG ratings from global rating agencies.
For the 2024 fiscal year, RLX plans to further recover its domestic business through product innovations and new market expansions.
More details: RLX Technology IR
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